Omantel issues Sukuk worth USD 500M


Omantel issues $500m sukuk

Muscat: Oman Telecommunication SAOG (Omantel) on Thursday announced its issuance of Sukuks of USD 500m.

In a disclosure to Muscat Stock Exchange the company said: Following the disclosure on 16th January 2024, Oman Telecommunication SAOG (Omantel) is pleased to announce the successful closing of its issuance of Sharia- compliant sukuks under its – USD- denominated Rule 144A / Reg S debut with a size of USD 500m.

The order book for the Sukuk was opened on Wednesday 17th of January 2024 and closed on the same day.

The tenor of the Sukuk is 7-years and at a profit rate of 5.375 % per annum.

The issuance received significant interest from regional and international market participants. The proceeds of the issuance will be used to repay the bridge loan of US $460m.

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